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  • Green River Gold Corp. (CCR) has entered into an Option Agreement with Surge Battery Metals Inc.(NILI)
  • Green River has granted Surge the right and option to acquire an 80% interest in a contiguous block of 8 mineral claims comprising 2,219.34 hectares
  • The Fontaine Project is located 45 km east of the city of Quesnel in central interior British Columbia
  • Upon Surge exercising its option, a joint venture shall be formed between Green River and Surge
  • Green River Gold Corp. acquires and develops placer mining claims and mineral claims
  • Green River Gold Corp. is down 6.67 per cent, trading at $0.07 per share at 11:30 am ET
  • Surge Battery Metals Inc. is up 6.25 per cent, trading at $0.255 per share

Green River Gold Corp. (CCR) has entered into an Option Agreement with Surge Battery Metals Inc.(NILI).

Under the terms of the agreement, Green River has granted Surge the right and option to acquire an 80% interest in a contiguous block of 8 mineral claims comprising 2,219.34 hectares. The optioned mineral claims represent less than 25% of Green River’s 8,937.94 hectare Fontaine project which it acquired in 2019.

The Fontaine Project is located 45 km east of the city of Quesnel in central interior British Columbia. The project is accessible year-round by Provincial Highway 26 and various well-maintained forestry roads. The project borders Osisko’s Cariboo Gold Project, with indicated resources of 3.2 Moz Au (21.4 million tonnes grading 4.64 g/t Au) and inferred resources of 2.72 Moz of Gold (21.7 million tonnes grading 3.91 g/t Au).

To exercise the option, Surge must issue common shares to Green River, in the aggregate sums shown in the following table:

DateShares to be Issued
Upon signing the Option Agreement500,000
1st Anniversary date of the effective date150,000
2nd Anniversary date of the effective date200,000
3rd Anniversary date of the effective date250,000
4th Anniversary date of the effective date300,000

In addition to the issuance of shares, Surge must incur no less than C$800,000 in mining work expenditures on the property by the end of the 4 th anniversary date of the effective date of the agreement.

Upon Surge exercising its option to acquire an undivided 80% interest in the Property by meeting these requirements, a joint venture shall be formed between Green River and Surge to contribute their share of future development and production costs.

In the event that Green River does not choose to contribute its share of future costs, then its 20% interest in the property would convert to a 2% Net Smelter Royalty.

Perry Little, Green River’s President and CEO, comments,

“We are pleased to see that we were not alone in recognizing the potential for other minerals at the Fontaine Project. We look forward to seeing the results of Surge’s exploration and wish them great success.”

Kyle Townsend, Green River’s Mine Manager, comments,

“Our target remains precious metals. We are pleased to have been approached by and to have reached an agreement with Surge Battery Metals Inc. who has the technical expertise and background to target the possible nickel alloy mineralization on the property .”

Green River Gold Corp. acquires and develops placer mining claims and mineral claims. 

Green River Gold Corp. is down 6.67 per cent, trading at $0.07 per share at 11:30 am ET.

Surge Battery Metals Inc. is up 6.25 per cent, trading at $0.255 per share.

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